Weekly Price Recap: 4/28-5/4

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Weekly Price Recap: 4/28-5/4

Last week was a fantastic week to be a Griddy member. Our members paid a ridiculously low 8.0₵/kWh while the average Texan paid 11.6₵/kWh – that’s 44% higher!!! We only had 3 price spikes this week: two on Tuesday and one more on Wednesday. Tuesday’s first spike was caused by a drop-off in wind generation and the second spike happened when a 550-megawatt power plant suddenly tripped. But in both cases, gas-fired generators ramped up quickly and the spike ended after 5 minutes. On Wednesday, a 900-megawatt coal-fired plant came down unexpectedly, leading to a 10-minute price spike before other generators could ramp up and bring the grid back into balance.